How to Use This Loan Comparison Tool
Enter the loan amount, interest rate, and tenure for Loan A and Loan B. You can compare two offers from different banks, model the impact of a balance transfer, or see how much you save by choosing a shorter tenure. The comparison summary at the bottom shows the exact difference in monthly EMI, total interest, and total payment.
When to Use a Loan Comparison Calculator
- Comparing bank offers: You have quotes from two lenders and want to see the true cost difference.
- Balance transfer decision: Your existing lender offers 9.5%, a new lender offers 8.75% — is the switch worth it?
- Tenure optimisation: Compare a 20-year vs 15-year tenure at the same rate to see the interest saved.
- Fixed vs floating rate: Model a fixed-rate loan against a current floating rate to see the break-even point.